Different price for DOGE ~30% | Bitcointalksearch.org

coin police

newbie

Activity: 27

Merit: 4

Liquidity is definitely the reason behind all of that. If you go on the orderbooks this is made very clear. Maybe a super good price for a tiny amount of DOGE and then they next order is way below. And by the time you discover that, plus the commissions for such small amounts, then you're done.

Even on DEX you can get done if you don't check price impact properly.

It' not Liquidity. If you have an account. Check for yourself.
The underlying problem come from the Doge wallet withdrawal being offline (I don't even remember since when Angry

) so traders are not able to withdraw their doge. The end up dumping it off for coins they can withdraw like ETH, BTC leading to a price drop.

Who would want to buy doge from HitBTC, yet they can't withdraw it. No sensible trader!

your 100% right

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: ?? on ??

Quote from: Oilacris on August 24, 2021, 05:57:02 PM

Also one of reasons is that it is lacking some liquidity or volume which simply means that there arent much people who had been trading on this platform in Dogecoin which its understandable that
liquidity is absent.

Liquidity is definitely the reason behind all of that. If you go on the orderbooks this is made very clear. Maybe a super good price for a tiny amount of DOGE and then they next order is way below. And by the time you discover that, plus the commissions for such small amounts, then you're done.

Even on DEX you can get done if you don't check price impact properly.

If you dont know on how to spot those orders then you would really be finding yourself having some problem because you would typically buying up something which isnt supposed on what you are expecting.

Liquidity is really the main reason on why we do see these differences in price and also volume isnt really similar on any platform and it wont really be that surprising but dont expect that you could

really take advantage with those price gaps because most of the time they arent letting deposits or withdrawals so you do need to be careful.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: zagul on April 16, 2021, 04:37:50 PM

Hello, why on https://exchange.bitcoin.com https://hitbtc.com/doge-to-usdt price lover then official like: https://www.binance.com/en/trade/DOGE_USDT/ and https://finance.yahoo.com/quote/DOGE-USD/
There some tricks? Huh

For sure those exchange platforms that do have lesser or low price of Doge does really restricted any deposits from external transactions because this is commonly happening whenever there are some huge gaps in price
on where platforms do mostly closes it up for avoiding arbitrage trading.

Also one of reasons is that it is lacking some liquidity or volume which simply means that there arent much people who had been trading on this platform in Dogecoin which its understandable that
liquidity is absent.

Be careful on making deposits because its likely you wont able to get it out.

coin police

newbie

Activity: 27

Merit: 4

stay away from there .
you can deposit all crypto , but when you wanne withdraw it will be offline .
everybody knows when deposit works withdraw also works .
they scam us even more by holding the prices very low like dogecoin and ethereum classic .
check for youself .
they sell your crypto when pumps come and dont let you withdraw untill prices are low again .
the internet is full with complaints .
stay away there and spread the word .

sunsilk

hero member

Activity: 3038

Merit: 634

Rates per exchanges varies. You don't see them having the same rates after all and that's why other traders are using those rates to do arbitrage trading.

But sometimes it's not that effective at all because rates from those exchanges are quickly increasing/decreasing. That's the risk for it and with those exchanges you've mentioned, I'll choose to trade only on one reputable exchange which is Binance for Doge pairs.

bitterguy28

full member

Activity: 2170

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“FRX: Ferocious Alpha”

Quote from: zagul on April 16, 2021, 04:37:50 PM

Hello, why on https://exchange.bitcoin.com https://hitbtc.com/doge-to-usdt price lover then official like: https://www.binance.com/en/trade/DOGE_USDT/ and https://finance.yahoo.com/quote/DOGE-USD/
There some tricks? Huh

Why bother checking this kind of questionable exchange when there are many legit and functional exchange existing now?

Binance and Kucoin is your best alternative and forget about this exchange that seemingly to be a scam site.

But it's your prerogative if you will become a victim in the coming days.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: zagul on April 19, 2021, 09:08:36 PM

With exchange i better switch, with one reputable trusted exchange?

Binance over HitBTC. Or anything other than HitBTC is good as long your local community of your country is using it. I have seen similar changes in DOGE and other coin prices on HitBTC previously as well.

Since the withdrawal for DOGE is not available, you cant also arbitrage it, meaning buying from a low price on one exchange and selling the same on another exchange at higher price. Obviously the owners are more clever than that.

In any case, you will need to change exchanges and I would suggest you to use a site like coingecko to keep track of prices than yahoo finance.

zagul

newbie

Activity: 6

Merit: 0

Quote from: joniboini on April 18, 2021, 02:16:41 AM

Quote from: zagul on April 16, 2021, 07:02:43 PM

so can you explain... why they close withdrawal???

The exchange should know the exact reason. That being said, HitBTC is famous for being a shady exchange, so I don't think you should use them even if that doesn't happen. Why risk your money while you can easily use other reputable exchanges with little to no price difference from the overall market price.

With exchange i better switch, with one reputable trusted exchange?

joniboini

legendary

Activity: 2170

Merit: 1789

Quote from: zagul on April 16, 2021, 07:02:43 PM

so can you explain... why they close withdrawal???

The exchange should know the exact reason. That being said, HitBTC is famous for being a shady exchange, so I don't think you should use them even if that doesn't happen. Why risk your money while you can easily use other reputable exchanges with little to no price difference from the overall market price.

zagul

newbie

Activity: 6

Merit: 0

Quote from: suzanne5223 on April 16, 2021, 06:45:16 PM

Quote from: zagul on April 16, 2021, 04:37:50 PM

Hello, why on https://exchange.bitcoin.com https://hitbtc.com/doge-to-usdt price lover then official like: https://www.binance.com/en/trade/DOGE_USDT/ and https://finance.yahoo.com/quote/DOGE-USD/
There some tricks? Huh

There's some tricks and theres not because some exchange site use fake trading volume/price so they can gain traffic which exchange.bitcoin.com could be one though almost all exchange was once guilty of it.
There's no trick involved because the market price of a certain coin in the market is always not the same on every exchange site because it the level of market demand and supply that tell what the exchange price will be.

so can you explain... why they close withdrawal???

suzanne5223

hero member

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Want top-notch marketing for your project, Hire me

Quote from: zagul on April 16, 2021, 04:37:50 PM

Hello, why on https://exchange.bitcoin.com https://hitbtc.com/doge-to-usdt price lover then official like: https://www.binance.com/en/trade/DOGE_USDT/ and https://finance.yahoo.com/quote/DOGE-USD/
There some tricks? Huh

There's some tricks and theres not because some exchange site use fake trading volume/price so they can gain traffic which exchange.bitcoin.com could be one though almost all exchange was once guilty of it.
There's no trick involved because the market price of a certain coin in the market is always not the same on every exchange site because it the level of market demand and supply that tell what the exchange price will be.

zagul

newbie

Activity: 6

Merit: 0

Quote from: Bitcoin_Arena on April 16, 2021, 05:27:29 PM

1. Avoid using the exchange.bitcoin.com. I consider them scammers. The owner behind bitcoin.com is a BCH owner. At one point they claimed "BCH = Real Bitcoin, BTC = Bitcoin Core"

Don't support scammers, use better exchanges.

2. Avoid using HitBTC, it's another scam exchange with lots of complaints about it. Just do a small search. They alsoi have they highest withdraw fees in the crypto exchange department.

3. HitBTC has put the Doge withdrawal wallet offline. So people are dumping Doge coin for other withdrawable coins thus the lower price. Do not deposit any Doge in there expecting to make quick profit.

https://i.imgur.com/xkViIF5.png
https://hitbtc.com/system-monitor

Thank you!

Bitcoin_Arena

copper member

Activity: 2128

Merit: 1814

฿itcoin for all, All for ฿itcoin.

1. Avoid using the exchange.bitcoin.com. I consider them scammers. The owner behind bitcoin.com is a BCH owner. At one point they claimed "BCH = Real Bitcoin, BTC = Bitcoin Core"

Don't support scammers, use better exchanges.

2. Avoid using HitBTC, it's another scam exchange with lots of complaints about it. Just do a small search. They alsoi have they highest withdraw fees in the crypto exchange department.

3. HitBTC has put the Doge withdrawal wallet offline. So people are dumping Doge coin for other withdrawable coins thus the lower price. Do not deposit any Doge in there expecting to make quick profit.

https://hitbtc.com/system-monitor

zagul

newbie

Activity: 6

Merit: 0

Quote from: Little Mouse on April 16, 2021, 05:10:09 PM

Do they allow DOGE withdrawal?

NO! - Please note that withdrawals are temporarily unavailable due to technical maintenance. Please accept our apologies for the inconvenience.
What this mean?

Little Mouse

legendary

Activity: 2254

Merit: 2305

Marketing Campaign Manager |Telegram ID- @LT_Mouse

On Binance, more users are trading than hotbit or other. This can be a reason for the spread although I doubt. People would take advantage of that if so.
Are you in hotbit? I think there's something wrong with hotbit withdrawal. Do they allow DOGE withdrawal? If they allowed, arbitragers would try to take the advantage and the spread wouldn’t that much.
It is also possible that Doge withdrawal fee in hotbit is huge (just a guess).

Quote from: zagul on April 16, 2021, 04:37:50 PM

There some tricks? Huh

I have seen some exchange doing such tricks to get the price down. But hotbit? No idea about this exchange.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

There are 2 likely possibilities:
1. If a price is rapidly increasing in one exchange but not on another it's likely because the exchange doesn't have enough funds deposited/people looking St the coin to arbitrage it.
2. They're advertising a false rate (or they're broken - tiny tiny volume exchanges be like that).

zagul

newbie

Activity: 6

Merit: 0

Hello, why on https://exchange.bitcoin.com https://hitbtc.com/doge-to-usdt price lover then official like: https://www.binance.com/en/trade/DOGE_USDT/ and https://finance.yahoo.com/quote/DOGE-USD/
There some tricks? Huh

Topic: Different price for DOGE ~30% (Read 218 times)